Following futures positions of non-commercials are as of September 29, 2020. 10-year note: Currently net long 128.6k, up 46.4k. FOMC minutes for the September 15-16 meeting are due out Wednesday. Rates at that meeting were obviously left unchanged between zero … Continued
After four negative weeks, equity bulls should be happy with how things have panned out week-to-date but it is far from all-clear. The Nasdaq 100 reclaimed the 50-day, while the S&P 500 closed Tuesday right on it. Both broke through … Continued
Even as tech shorts have meaningfully increased their activity, Nasdaq 100 longs have tried to put foot down just under the 50-day. A takeout of the average can shift sentiment – duration notwithstanding. Tech bulls are trying hard to put … Continued
Following futures positions of non-commercials are as of September 22, 2020. 10-year note: Currently net long 82.2k, up 67.4k. Several Fed officials this week stressed on the need for Congress to get its act together and provide fiscal help. This … Continued
Investors Intelligence bulls are down three weeks in a row from 100-week high 61.5 percent to 51.5 percent. Sentiment remains in the optimistic zone. Importantly, this week’s rally attempts were just denied at the 50-day on the Nasdaq 100, which … Continued
Bulls tried to put foot down on Monday. If they succeed in building on this further, the next tug of war on major indices lies around their respective 50-day, reclaiming of which can even induce short squeeze, particularly in tech. … Continued
Following futures positions of non-commercials are as of September 15, 2020. 10-year note: Currently net long 14.8k, up 5.3k. The Fed Wednesday said rates will stay zero-bound through the end of 2023. The fed funds rate in March was lowered … Continued
Following futures positions of non-commercials are as of September 8, 2020. 10-year note: Currently net long 9.5k, up 23k. The FOMC meets this week. After the Tuesday-Wednesday meeting, two more remain this year – November 4-5 and December 15-16. As … Continued
Bears are putting foot down. On both the S&P 500 and Russell 2000, bulls last week were unable to break through multi-year resistance, even as the Nasdaq 100 finished right on rising-channel support from March. All this followed massive gains … Continued
Following futures positions of non-commercials are as of September 1, 2020. 10-year note: Currently net short 13.5k, up 85.8k. The 10-year Treasury yield (0.72 percent) remains rangebound between 0.57 percent and 0.74 percent. There was some excitement among bond bears … Continued